This policy brief updates The Trade Partnership’s March 5 policy brief to examine the potential net impacts on U.S. jobs across all industries of retaliation threatened by U.S. trading partners in response to the imposition of U.S. steel and aluminum tariffs. We find that the tariffs would result in a net loss of nearly 470,000 U.S. jobs after accounting for positive impacts on U.S. steel and aluminum producers. Overall, more than 18 jobs would be lost for every one gained.